- Warren Buffett’s Berkshire Hathaway took a surprise stake in Barrick Gold earlier this year.
- The famed investor’s endorsement could spur more investors to bet on the metal, NovaGold chairman Thomas Kaplan said on an earnings call this week.
- “He’s made it safe for anyone interested in gold to be looking at the gold narrative,” he added.
- Kaplan previously benefited from Buffett’s unexpected purchase of 130 million ounces of silver in the late 1990s, as it legitimized the metal as an investment.
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Warren Buffett’s surprise bet on Barrick Gold has given investors the green light to buy the precious metal, billionaire investor Thomas Kaplan said on NovaGold’s third-quarter earnings call this week.
Buffett “effectively detoxified gold” when his Berkshire Hathaway conglomerate revealed a $564 million stake in the gold miner in August, the NovaGold chairman said.
“He’s made it safe for anyone interested in